In a video interview with Bloomberg News on Thursday, Sen. Elizabeth Warren declared that irrespective of the Dec. 10 enactment of the Volcker rule, “We still need Glass-Steagall.”

A transcript of the Bloomberg interview follows:

Warren: “Here back in 2008, we had talked about the banking crisis. It was brought on by the lousy mortgages. It was also brought on by too much concentration in the banking industry. Where are we today? The five largest financial institutions today are 38% bigger than they were in 2008, when we said there was too much concentration. They’re continuing to take on risks. So we’ve still got serious problems in this economy, and regulation is part of what we have to see. Serious enforcement of the law.

Bloomberg: “Sen. Warren, given what you just said about the level of concentration in the banking industry here in America, and your previous comments about that the Volcker Rule is a good first step, what does that mean? Does that mean that you still see the need to push Glass-Steagall, with something like a Glass-Steagall 2.0, a repeal of Gramm-Leach-Bliley, and a restoration of the divisions between investment and commercial banking?”

Warren: “I do. I think that Glass-Steagall 2.0, Glass-Steagall for the 21st Century, is something we still need. Because it addresses both ‘too big’ and the risks associated with ‘to fail,’ and so long as we’ve got this much risk in the system, and this much concentration in the system, I’m still pushing for Glass-Steagall. I still think it’s what we need.”

H.R.3711:

To reduce risks to the financial system by limiting banks’ ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes. Sponsor: Rep Tierney, John F. [MA-6] (introduced 12/11/2013) Cosponsors (1) Committees: House Financial Services; House Judiciary Latest Major Action: 12/11/2013 Referred to House committee. Status: Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.